I have some input on your tactics, Eramor.
First off, overusing the up+B against either Fox or Falco is a bad idea, only use it if you KNOW you can hit them.
Secondly, don't shield grab every chance possible, you will be left open many times and will be punished very badly.
If they reflect a bomb, catch it and throw it again (if you can).
Use their reflectors against them as you said by shooting projectiles at them.
Bounce your boomer off the ground so when it reflects it will go under the ground and will not hit you on return. Also, note that once a boomer is reflected, you instantly get a new one since the old boomer is no longer yours. Another thing... If you throw your boomer in straight at a Fox, it reflects upwards, so don't jump.
Avoid being comboed in the air, but combo them in the air as much as possible. Link's up-air cannot be beat by either of their d-airs, and their horizontal manueverability in the air doesn't allow them to escape juggling with the up-air easily. Also, if either Fox or Falco try to jump in with a d-air (not a SH), SH to up-air. Using the up-air against Fox and Falco is very effective and can screw people over. If they're SHing into you with a d-air, WD back to f-smash, d-smash, grab, or up+B (be careful with the grab though!).
SH or WD backwards off the edge to edge hog Fox and Falco when you hear the ding of their forward+B's.
When hanging on the ledge, drop and jump up to use an up-air, sex kick, or f-air (f-air ONLY if they're far away). If they're really close and they're going to use a move, roll, attack, or jump (not drop jump) instead.
D-throw to d-smash, up-throw to d-smash, up-throw to up-smash.
When Fox tries to dash attack you, you will either be able to get a spin attack (from your shield) off or a shield grab, depending on where he is. Beware of Fox jumping or grabbing instead! WDing backwards to neutral-A, f-smash, or d-smash can also be good options.
When above Fox, and he's jumping up towards you, FF when he gets very close and d-air or sex kick. You can possibly miss his attack and hit him instead.
FF when coming back if you can and still grab onto the edge. This can help you avoid being shined away from the stage by Fox or spiked by Falco. Air dodging onto the stage when possible or to grabbing onto the ledge are also good ideas.
DI out of Fox and Falco's up-throws by holding down left or right as soon as they grab you and tech out of their d-throws.
Using Link's b-air is a big mistake. Fox and Falco's dash attacks, up-smashes and f-smashes go right through it. Only use b-air in the middle of a combo when they can't escape.
That's all I can think of right now, I need to get to bed. Later.